EQUINOR ASA-SPON ADR (EQNR) Fundamental Analysis & Valuation

NYSE:EQNR • US29446M1027

Current stock price

38.525 USD
-0.8 (-2.05%)
Last:

This EQNR fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

5

1. EQNR Profitability Analysis

1.1 Basic Checks

  • In the past year EQNR was profitable.
  • EQNR had a positive operating cash flow in the past year.
  • EQNR had positive earnings in each of the past 5 years.
  • Each year in the past 5 years EQNR had a positive operating cash flow.
EQNR Yearly Net Income VS EBIT VS OCF VS FCFEQNR Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 20B 40B 60B

1.2 Ratios

  • The Return On Assets of EQNR (3.83%) is comparable to the rest of the industry.
  • EQNR's Return On Equity of 12.48% is fine compared to the rest of the industry. EQNR outperforms 70.33% of its industry peers.
  • EQNR has a better Return On Invested Capital (21.37%) than 97.13% of its industry peers.
Industry RankSector Rank
ROA 3.83%
ROE 12.48%
ROIC 21.37%
ROA(3y)N/A
ROA(5y)N/A
ROE(3y)N/A
ROE(5y)N/A
ROIC(3y)N/A
ROIC(5y)N/A
EQNR Yearly ROA, ROE, ROICEQNR Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 20 40

1.3 Margins

  • EQNR has a Profit Margin (4.77%) which is comparable to the rest of the industry.
  • EQNR's Profit Margin has declined in the last couple of years.
  • EQNR has a Operating Margin of 25.85%. This is in the better half of the industry: EQNR outperforms 69.38% of its industry peers.
  • EQNR's Operating Margin has improved in the last couple of years.
  • With a Gross Margin value of 47.87%, EQNR perfoms like the industry average, outperforming 57.42% of the companies in the same industry.
  • EQNR's Gross Margin has declined in the last couple of years.
Industry RankSector Rank
OM 25.85%
PM (TTM) 4.77%
GM 47.87%
OM growth 3Y-19.71%
OM growth 5Y27.45%
PM growth 3Y-37.26%
PM growth 5YN/A
GM growth 3Y-9.17%
GM growth 5Y-2.43%
EQNR Yearly Profit, Operating, Gross MarginsEQNR Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 20 40 60

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4

2. EQNR Health Analysis

2.1 Basic Checks

  • The Return on Invested Capital (ROIC) is well above the Cost of Capital (WACC), so EQNR is creating value.
  • EQNR has no outstanding debt. Therefor its Debt/Equity and Debt/FCF ratios are 0 and belong to the best of the industry.
EQNR Yearly Shares OutstandingEQNR Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 1B 2B 3B
EQNR Yearly Total Debt VS Total AssetsEQNR Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 50B 100B 150B

2.2 Solvency

  • EQNR has a debt to FCF ratio of 5.22. This is a neutral value as EQNR would need 5.22 years to pay back of all of its debts.
  • With a decent Debt to FCF ratio value of 5.22, EQNR is doing good in the industry, outperforming 67.46% of the companies in the same industry.
  • A Debt/Equity ratio of 0.64 indicates that EQNR is somewhat dependend on debt financing.
  • EQNR has a Debt to Equity ratio (0.64) which is comparable to the rest of the industry.
Industry RankSector Rank
Debt/Equity 0.64
Debt/FCF 5.22
Altman-Z N/A
ROIC/WACC2.71
WACC7.89%
EQNR Yearly LT Debt VS Equity VS FCFEQNR Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 10B 20B 30B 40B 50B

2.3 Liquidity

  • A Current Ratio of 1.24 indicates that EQNR should not have too much problems paying its short term obligations.
  • EQNR has a Current ratio (1.24) which is in line with its industry peers.
  • EQNR has a Quick Ratio of 1.13. This is a normal value and indicates that EQNR is financially healthy and should not expect problems in meeting its short term obligations.
  • Looking at the Quick ratio, with a value of 1.13, EQNR is in line with its industry, outperforming 58.37% of the companies in the same industry.
Industry RankSector Rank
Current Ratio 1.24
Quick Ratio 1.13
EQNR Yearly Current Assets VS Current LiabilitesEQNR Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 20B 40B 60B

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4

3. EQNR Growth Analysis

3.1 Past

  • The earnings per share for EQNR have decreased strongly by -22.98% in the last year.
  • The Earnings Per Share has been growing by 54.69% on average over the past years. This is a very strong growth
  • Looking at the last year, EQNR shows a small growth in Revenue. The Revenue has grown by 3.24% in the last year.
  • The Revenue has been growing by 18.26% on average over the past years. This is quite good.
EPS 1Y (TTM)-22.98%
EPS 3Y-29.61%
EPS 5Y54.69%
EPS Q2Q%28.57%
Revenue 1Y (TTM)3.24%
Revenue growth 3Y-10.78%
Revenue growth 5Y18.26%
Sales Q2Q%-4.38%

3.2 Future

  • EQNR is expected to show a small growth in Earnings Per Share. In the coming years, the EPS will grow by 6.62% yearly.
  • Based on estimates for the next years, EQNR will show a small growth in Revenue. The Revenue will grow by 1.05% on average per year.
EPS Next Y8.81%
EPS Next 2Y9.97%
EPS Next 3Y9.18%
EPS Next 5Y6.62%
Revenue Next Year9.98%
Revenue Next 2Y0.53%
Revenue Next 3Y1.05%
Revenue Next 5YN/A

3.3 Evolution

  • The EPS growth rate is decreasing: in the next years the growth will be less than in the last years.
  • When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
EQNR Yearly Revenue VS EstimatesEQNR Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 50B 100B 150B
EQNR Yearly EPS VS EstimatesEQNR Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 0 2 4 6

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5

4. EQNR Valuation Analysis

4.1 Price/Earnings Ratio

  • EQNR is valuated correctly with a Price/Earnings ratio of 15.41.
  • EQNR's Price/Earnings ratio is a bit cheaper when compared to the industry. EQNR is cheaper than 65.07% of the companies in the same industry.
  • When comparing the Price/Earnings ratio of EQNR to the average of the S&P500 Index (26.91), we can say EQNR is valued slightly cheaper.
  • Based on the Price/Forward Earnings ratio of 14.15, the valuation of EQNR can be described as correct.
  • Based on the Price/Forward Earnings ratio, EQNR is valued a bit cheaper than 70.33% of the companies in the same industry.
  • The average S&P500 Price/Forward Earnings ratio is at 23.69. EQNR is valued slightly cheaper when compared to this.
Industry RankSector Rank
PE 15.41
Fwd PE 14.15
EQNR Price Earnings VS Forward Price EarningsEQNR Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

  • 99.04% of the companies in the same industry are more expensive than EQNR, based on the Enterprise Value to EBITDA ratio.
  • Based on the Price/Free Cash Flow ratio, EQNR is valued a bit cheaper than 64.11% of the companies in the same industry.
Industry RankSector Rank
P/FCF 16.08
EV/EBITDA 2.4
EQNR Per share dataEQNR EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 10 20 30 40

4.3 Compensation for Growth

  • EQNR's PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.
PEG (NY)1.75
PEG (5Y)0.28
EPS Next 2Y9.97%
EPS Next 3Y9.18%

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5

5. EQNR Dividend Analysis

5.1 Amount

  • EQNR has a Yearly Dividend Yield of 3.78%.
  • EQNR's Dividend Yield is a higher than the industry average which is at 3.16.
  • EQNR's Dividend Yield is rather good when compared to the S&P500 average which is at 1.89.
Industry RankSector Rank
Dividend Yield 3.78%

5.2 History

  • On average, the dividend of EQNR grows each year by 24.62%, which is quite nice.
  • EQNR has paid a dividend for at least 10 years, which is a reliable track record.
Dividend Growth(5Y)24.62%
Div Incr Years0
Div Non Decr Years0
EQNR Yearly Dividends per shareEQNR Yearly Dividends per shareYearly Dividends per share 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2 4 6

5.3 Sustainability

  • 94.98% of the earnings are spent on dividend by EQNR. This is not a sustainable payout ratio.
  • EQNR's earnings are growing slower than its dividend. This means the dividend growth is not sustainable.
DP94.98%
EPS Next 2Y9.97%
EPS Next 3Y9.18%
EQNR Yearly Income VS Free CF VS DividendEQNR Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 10B 20B
EQNR Dividend Payout.EQNR Dividend Payout, showing the Payout Ratio.EQNR Dividend Payout.PayoutRetained Earnings

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EQNR Fundamentals: All Metrics, Ratios and Statistics

EQUINOR ASA-SPON ADR

NYSE:EQNR (4/9/2026, 3:11:08 PM)

38.525

-0.8 (-2.05%)

Chartmill FA Rating
GICS SectorEnergy
GICS IndustryGroupEnergy
GICS IndustryOil, Gas & Consumable Fuels
Earnings (Last)02-04
Earnings (Next)05-06
Inst Owners18.51%
Inst Owner Change-0.01%
Ins Owners0%
Ins Owner ChangeN/A
Market Cap96.11B
Revenue(TTM)105.83B
Net Income(TTM)5.04B
Analysts50.27
Price Target26.34 (-31.63%)
Short Float %2.6%
Short Ratio2.59
Dividend
Industry RankSector Rank
Dividend Yield 3.78%
Yearly Dividend3.02
Dividend Growth(5Y)24.62%
DP94.98%
Div Incr Years0
Div Non Decr Years0
Ex-Date05-15
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)-5.71%
Min EPS beat(2)-36.86%
Max EPS beat(2)25.44%
EPS beat(4)1
Avg EPS beat(4)-9.04%
Min EPS beat(4)-36.86%
Max EPS beat(4)25.44%
EPS beat(8)4
Avg EPS beat(8)-0.56%
EPS beat(12)6
Avg EPS beat(12)-1.17%
EPS beat(16)8
Avg EPS beat(16)1.03%
Revenue beat(2)2
Avg Revenue beat(2)16.68%
Min Revenue beat(2)10.59%
Max Revenue beat(2)22.78%
Revenue beat(4)4
Avg Revenue beat(4)13.25%
Min Revenue beat(4)8.5%
Max Revenue beat(4)22.78%
Revenue beat(8)6
Avg Revenue beat(8)6.03%
Revenue beat(12)7
Avg Revenue beat(12)1.98%
Revenue beat(16)10
Avg Revenue beat(16)0.83%
PT rev (1m)0%
PT rev (3m)7.44%
EPS NQ rev (1m)28.86%
EPS NQ rev (3m)19.72%
EPS NY rev (1m)0.07%
EPS NY rev (3m)-5.12%
Revenue NQ rev (1m)12.68%
Revenue NQ rev (3m)30.76%
Revenue NY rev (1m)16.97%
Revenue NY rev (3m)20.65%
Valuation
Industry RankSector Rank
PE 15.41
Fwd PE 14.15
P/S 0.91
P/FCF 16.08
P/OCF 4.81
P/B 2.38
P/tB 2.79
EV/EBITDA 2.4
EPS(TTM)2.5
EY6.49%
EPS(NY)2.72
Fwd EY7.07%
FCF(TTM)2.4
FCFY6.22%
OCF(TTM)8
OCFY20.78%
SpS42.42
BVpS16.2
TBVpS13.82
PEG (NY)1.75
PEG (5Y)0.28
Graham Number30.19
Profitability
Industry RankSector Rank
ROA 3.83%
ROE 12.48%
ROCE 27.06%
ROIC 21.37%
ROICexc 26.43%
ROICexgc 28.5%
OM 25.85%
PM (TTM) 4.77%
GM 47.87%
FCFM 5.65%
ROA(3y)N/A
ROA(5y)N/A
ROE(3y)N/A
ROE(5y)N/A
ROIC(3y)N/A
ROIC(5y)N/A
ROICexc(3y)N/A
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)N/A
ROCE(5y)N/A
ROICexgc growth 3YN/A
ROICexgc growth 5YN/A
ROICexc growth 3YN/A
ROICexc growth 5YN/A
OM growth 3Y-19.71%
OM growth 5Y27.45%
PM growth 3Y-37.26%
PM growth 5YN/A
GM growth 3Y-9.17%
GM growth 5Y-2.43%
F-Score5
Asset Turnover0.8
Health
Industry RankSector Rank
Debt/Equity 0.64
Debt/FCF 5.22
Debt/EBITDA 0.65
Cap/Depr 112.19%
Cap/Sales 13.22%
Interest Coverage 41.14
Cash Conversion 50.14%
Profit Quality 118.5%
Current Ratio 1.24
Quick Ratio 1.13
Altman-Z N/A
F-Score5
WACC7.89%
ROIC/WACC2.71
Cap/Depr(3y)111.52%
Cap/Depr(5y)107.58%
Cap/Sales(3y)11.67%
Cap/Sales(5y)9.97%
Profit Quality(3y)109.15%
Profit Quality(5y)132.47%
High Growth Momentum
Growth
EPS 1Y (TTM)-22.98%
EPS 3Y-29.61%
EPS 5Y54.69%
EPS Q2Q%28.57%
EPS Next Y8.81%
EPS Next 2Y9.97%
EPS Next 3Y9.18%
EPS Next 5Y6.62%
Revenue 1Y (TTM)3.24%
Revenue growth 3Y-10.78%
Revenue growth 5Y18.26%
Sales Q2Q%-4.38%
Revenue Next Year9.98%
Revenue Next 2Y0.53%
Revenue Next 3Y1.05%
Revenue Next 5YN/A
EBIT growth 1Y-11.04%
EBIT growth 3Y-28.36%
EBIT growth 5Y50.72%
EBIT Next Year23.19%
EBIT Next 3Y7.35%
EBIT Next 5Y3.16%
FCF growth 1Y-24.66%
FCF growth 3Y-39.15%
FCF growth 5Y25.63%
OCF growth 1Y-0.69%
OCF growth 3Y-17.16%
OCF growth 5Y13.97%

EQUINOR ASA-SPON ADR / EQNR Fundamental Analysis FAQ

What is the ChartMill fundamental rating of EQUINOR ASA-SPON ADR (EQNR) stock?

ChartMill assigns a fundamental rating of 5 / 10 to EQNR.


What is the valuation status of EQUINOR ASA-SPON ADR (EQNR) stock?

ChartMill assigns a valuation rating of 5 / 10 to EQUINOR ASA-SPON ADR (EQNR). This can be considered as Fairly Valued.


What is the profitability of EQNR stock?

EQUINOR ASA-SPON ADR (EQNR) has a profitability rating of 5 / 10.


Can you provide the PE and PB ratios for EQNR stock?

The Price/Earnings (PE) ratio for EQUINOR ASA-SPON ADR (EQNR) is 15.41 and the Price/Book (PB) ratio is 2.38.


What is the earnings growth outlook for EQUINOR ASA-SPON ADR?

The Earnings per Share (EPS) of EQUINOR ASA-SPON ADR (EQNR) is expected to grow by 8.81% in the next year.